Bharat Forge may test Rs 1300, hold L&T: Vijay Chopra

Vijay Chopra of enochventures.com told CNBC-TV18, "I am quite gung-ho on the defence play and any company which is there in the defence sector which is going to get benefitted from the orders - Larsen and Toubro (L&T), Bharat Forge, Bharat Electronics and BEML, such companies should get defence orders and I am sure that in the next two years a lot of things are going to pan out from the government’s front."

"In Bharat Forge, Rs 1,300 is a quite visible target for the stock but one has to hold with at least 6-12 months' perspective," he added.

"One should not lighten position in Larsen and Toubro (L&T). It is apart from being a very serious player in the capital goods space, in the infrastructure space, my sense is that it is going to get a lot of orders in the defence area as well. I am quite gung-ho on the company’s growth story and the India story and I have said this several times that there are large projects. Name a company which has the ability and capability to execute it. I don’t think there are many names in India barring L&T."

"So, I am fairly bullish on the counter. My take is that if somebody holds with a 12-24 months perspective, Rs 2,500 is definitely on the cards. If some kind of a shocker does not come in the market, it should consistently grow over a period of time and the numbers also have been good this quarter. So, it should keep on growing. So definitely a hold recommendation," he added.